Glimmer, Noranda pick up ground near Beatty-Hislop

Joint venture partners Glimmer Resources (VSE) and Noranda (TSE) have acquired another 8.5 claims around their Beatty-Hislop gold discovery near Matheson, Ont. The companies recently added the new claims to their existing 560-acre property where two deposits with preliminary reserves of 467,000 tons grading 0.31 oz. gold per ton have been outlined to a depth of 650 ft. To date, about 38 holes have been drilled on the original discovery property.

Some of the better intersections from previous drilling are 45.9 ft. grading 0.34 oz., 18.0 ft. of 0.59 oz., 14.8 ft. of 0.46 oz., and 9.8 ft. of 0.25 oz.

According to Glimmer, a new 6,500-ft. drill program began this month by operator and 60% owner Noranda. The program, which should reach completion by mid- December, will check the lateral and depth continuity of one of the main gold zones, as well as test several other targets.

Originally found last fall, the gold zones represent significant new discoveries along the well-known Porcupine Destor fault. They remain open along strike and at depth. The mineralization is associated with quartz vein stockworks hosted by green carbonate-altered volcanic rocks.

Meanwhile, Placer Dome (TSE) has completed a 9-hole drill program on Glimmer’s other gold property in Barnet Twp. The company is awaiting a summary report of those results. Drilling of a strong electromagnetic anomaly on Glimmer’s base metal property in the Yukon will not be attempted until next year, the company said.